Based on the audit report of the office of the Auditor General of the Federation, Senate has asked Bureau of Public Enterprises (BPE) to refund N8.7 billion to the Consolidated Revenue Fund (CRF).
According to the 2014 and 2015 Audit Report which was sustained by the Senate, the BPE misappropriated the sum of N8, 757, 353, 089.09 bn in violation of several rules of financial regulations.
The Senate said one of such violations was the alleged non – remittance of N4, 736, 932, 467.67bn dividends received on Federal Government Holdings which was not remitted to the Consolidated Revenue Fund (CRF).
Though BPE in its response to the query said all dividends received on Federal Government Holdings in the year under review totalling N6, 819, 388, 791.00bn were transferred to Treasury Single Account (TSA) in September 2015, but the Senate punctured the submission for lack of documentary evidence to back it .
“The report adopted by the Senate reads: “The committee observed that there was no evidence provided by BPE to show that the dividend was remitted to TSA.
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“Consequently, the committee recommends that the Bureau remit the sum of N4, 736, 932, 467. 67billion to the CRF, evidence of which must be submitted to Auditor General of the Federation and Senate Public Accounts Committee.”
BPE in another query sustained and adopted by the Senate, was alleged of diversion of N2.5billion proceeds of PHCN from Access and FCMB banks to now liquidate Aso Savings and Loans for financing of Staff Housing Scheme, contrary to financial regulation 3205.
The query and Senate’ s resolution read: “ Unauthorised transfer of N2.5billion representing PHCN proceeds in Access Bank and FCMB Accounts were diverted to ASO Savings and Loans Plc, as a condition precedent to the Staff Cooperative Mortgage, contrary to Financial Regulation 3205.